Berlin

"The disintegration of the Soviet Union, combined with apparent return of East Germany to democracy and to capitalism, stirred the strategic as well as the emotional fires in Peter Munk’s European soul. As he puts it, “Geopolitical events bring with them major economic changes—and that’s the time to make big money.” He immediately understood that there would be opportunities to restore Berlin to its prewar grandeur, and to do so profitably. Another possibility was to acquire and develop lands close to and within the social and economic orbit of Berlin."

"Nevertheless, it falls far too short to see Haselsteiner only as a construction entrepreneur. In fact, he is one of the most active, enterprising, and versatile entrepreneurs in Austria. Directly or indirectly, he is involved in more than 900 (!) companies and corporations. For instance, in 2008, together with partners, he took over the troubled and scandal-ridden Constantia Privatbank, restructured it, and at times held 75 percent of the shares in the successor credit institution, Semper Constantia Privatbank. Again, with other business friends, he made the state-run ÖBB railway company face competition as a co-founder of the private railway company WESTbahn. He participated in major hotel projects, possesses shares in two ski resorts, a thermal spa, real estate companies, and indirectly even in the German department store chain Karstadt and the legendary KaDeWe (Kaufhaus des Westens) in Berlin."

"Thus attuned, he tends to astonish journalists with his monologues. For instance, in an interview with Focus (from October 18, 2010), he confesses: "Death, loss, they don't scare me," and responds: "What is the purpose of our life? [...] I want to use money to realize ideas, to support social projects. Some commitments can and should be 100 percent philanthropic. Basically, my investments have to pay off, only then can I tackle further tasks. Take Berlin: I invest long-term in Berlin. This city is great with a creative and international spirit. Just like my father Heinz Berggruen, I want to strengthen that spirit!""

"He implemented this strategy in Berlin from 2005 onwards, as a collector of "buildings with character.""

"The key points of the strategy: – the discovery of the sentimental and familial connection to Berlin – Nicolas Berggruen's childhood memories of Karstadt as an iconic German department store – flattering words for Berlin, Germany, the Stülerbau, and the KaDeWe – integration of charitable future plans through Berggruen's patronage in the cultural field – presenting oneself with a modest and shy attitude at public appearances. In the sense of "I am not important, Karstadt is important" - "Picasso and the Berggruen Museum" are important – self-portrayal as a man of discernment, disinterested in material possessions – myth of the self-made man with emphasis on personal achievement: Nicolas Berggruen did not become a billionaire through his father's inherited capital, but made his money himself. With his know-how, he built up the holdings."